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Rush’s Morning Update: Shell Game
February 9, 2010

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Looky here, folks. The New York Times has given the Obama administration a public heads up that they’re ticking off theirfriends.

The Times reports that last election cycle, Democrats hauled in almost $90 million in donations from their Wall Street buddies. JPMorgan Chase CEO Jamie Dimon is one of them. So is the vice chairman, William Daley– transition advisor to Obama and head of the Daley clan that has ruled Chicago for ages. But this year, JPMorgan Chase has turned down donation requests from Democrat House and Senate campaigns, while instead giving thirty grand to Republicans.

Morgan Stanley executive Thomas Nides admits he’s a huge Obama supporter. But he told the Times: “Even if you are a big fan, when you are the pinata at the party, it doesn’t really feel good.” Another exec– unnamed because he fears retribution (smart guy)– complained to the Times that Democrats believe they can kick financial executives around and still get donations. He says Wall Street isn’t “going to play that game anymore.”

But the money quote is from an unnamed lobbyist. “If the president wanted to turn every Democrat on Wall Street into a Republican, he’s doing everything right,” he says.

The dirty truth is, Democrats have forever portrayed themselves as “for the little guy,” and Republicans as “for the rich.” But now, Obama’s class warfare is even too much for big Democrat donors to abide. And so,at long last, my friends,thanks to Obama, the Democrats’ shell game is coming to an end.

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